AGIRI OLUWADAMILARE IBRAHIM

Economics

At the Economics department office

Appointment on Visitation important

Topic: Development Economics And Financial Development

Description: My research interests lie in the fields of Development Economics and Financial Development, with a particular focus on the global challenges of poverty, inequality, trade, and the uneven distribution of globalization s benefits especially in developing and emerging economies, where the gains of globalization often fail to translate into meaningful poverty reduction. Also, my interest also focus in the role of Financial Development including the advancement of Financial Technology FinTech in fostering inclusive economic growth, promoting financial inclusion, and enhancing the growth and sustainability of Small and Medium Enterprises SMEs . My research seeks to explore how improved access to financial services and innovations in financial systems can empower SMEs, bridge financing gaps, stimulate entrepreneurial activities, and contribute to broader economic development.

#	Certificate	School	Year
1.	M.Sc (Economics)	Economics, Lagos State University, Ojo	2025

Financial Services, Financial Inclusion and Growth of SMEs in Nigeria

Small and Medium-Sized Enterprises SMEs play a vital role in economic development by driving innovation, job creation, and wealth generation. However, limited access to financial services and financial inclusion remains a major constraint to SME growth. This study examines the impact of financial services and financial inclusion on SME performance and explores the role of financial services in promoting financial inclusion for economic growth. A quantitative approach is employed, utilising secondary data from the 2023 EFInA Access to Financial Services in Nigeria Survey. Structural Equation Modeling SEM is applied to analyze causal relationships among financial services, financial inclusion, and SME growth. Financial services are measured through savings, payment, and transactions, while financial inclusion is assessed via financial accessibility, financial literacy, and financial technology. SME growth is evaluated based on revenue growth, profitability, and market expansion. Findings reveal that financial services negatively impact SME growth in Nigeria = -0.342, p = 0.000 , whereas financial inclusion has a positive and significant effect = 0.443, p = 0.000 . Additionally, financial services negatively affect financial inclusion = -0.588, p = 0.000 , but its impact on SME growth through financial inclusion is positive. The study concludes that financial inclusion fosters SME development, but financial services remain inadequate due to structural challenges. Policymakers should strengthen financial literacy programs, expand fintech-driven services, and implement regulatory reforms to improve SME access to credit. Financial institutions should develop SME-friendly loan products, reduce collateral requirements, and leverage digital finance to enhance financial inclusion. Addressing these issues will enable SMEs to contribute more effectively to Nigeria s economic growth and sustainable development.

AGIRI IBRAHIM is a Graduate Assistant at the Department of Economics

AGIRI has a M.Sc in Economics from Economics, Lagos State University, Ojo